Enlight Renewable Energy (NASDAQ:ENLT) Upgraded by Wall Street Zen to Hold Rating

Enlight Renewable Energy (NASDAQ:ENLT) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Monday.

Several other research analysts have also weighed in on ENLT. Deutsche Bank Aktiengesellschaft set a $65.00 price objective on shares of Enlight Renewable Energy and gave the company a “hold” rating in a research note on Thursday, April 9th. JPMorgan Chase & Co. boosted their price target on shares of Enlight Renewable Energy from $57.00 to $68.00 and gave the company an “underweight” rating in a report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. Truist Financial initiated coverage on Enlight Renewable Energy in a report on Monday, July 13th. They set a “buy” rating and a $106.00 price objective for the company. Finally, UBS Group reduced their price objective on Enlight Renewable Energy from $123.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, July 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.14.

Enlight Renewable Energy Price Performance

Shares of ENLT opened at $90.81 on Monday. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 211.19, a P/E/G ratio of 24.65 and a beta of 1.66. Enlight Renewable Energy has a fifty-two week low of $22.95 and a fifty-two week high of $108.65. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. The business’s 50-day moving average is $90.83 and its 200-day moving average is $76.07.

Enlight Renewable Energy (NASDAQ:ENLT) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share (EPS) for the quarter. The business had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a net margin of 9.47% and a return on equity of 2.48%. Equities research analysts expect that Enlight Renewable Energy will post 0.28 EPS for the current fiscal year.

Insider Activity

In other news, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction on Monday, May 25th. The shares were sold at an average price of $93.68, for a total transaction of $6,879,484.48. Following the transaction, the director owned 396,655 shares in the company, valued at $37,158,640.40. This represents a 15.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ilan Goren sold 26,622 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $103.76, for a total transaction of $2,762,298.72. Following the transaction, the insider owned 42,835 shares in the company, valued at $4,444,559.60. This represents a 38.33% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 313,597 shares of company stock valued at $29,830,515.

Institutional Investors Weigh In On Enlight Renewable Energy

A number of large investors have recently bought and sold shares of ENLT. Versant Capital Management Inc acquired a new position in Enlight Renewable Energy during the second quarter worth $34,000. Wealth High Governance Capital Ltda bought a new position in Enlight Renewable Energy during the first quarter valued at about $1,439,000. Wealth High Governance Asset Management Ltda. acquired a new stake in shares of Enlight Renewable Energy in the first quarter worth about $1,218,000. Bank of America Corp DE lifted its position in shares of Enlight Renewable Energy by 376.4% in the first quarter. Bank of America Corp DE now owns 476,289 shares of the company’s stock worth $32,511,000 after buying an additional 376,309 shares during the last quarter. Finally, Altshuler Shaham Ltd boosted its stake in shares of Enlight Renewable Energy by 705.5% during the 1st quarter. Altshuler Shaham Ltd now owns 4,712,641 shares of the company’s stock worth $311,645,000 after acquiring an additional 4,127,573 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. (NASDAQ:ENLT) is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company’s portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.